Wellington Management Group LLP Sells 1,054,119 Shares of Ardent Health, Inc. $ARDT

Key Points

• Wellington Management Group LLP significantly decreased its holdings in Ardent Health, Inc. by 68.0%, selling over 1 million shares and holding approximately 494,966 shares worth $6.8 million at the end of the quarter.
• Analysts have varied perspectives on Ardent Health, with Guggenheim raising their price target to $18 and a "buy" rating, while JPMorgan lowered their target to $15, maintaining a "neutral" rating.
• Ardent Health's stock performance is reflected in its price range of $10.10 to $20.72 over the past year, with the current stock trading at $12.55.

Wellington Management Group LLP reduced its holdings in Ardent Health, Inc. (NYSE:ARDT - Free Report) by 68.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 494,966 shares of the company's stock after selling 1,054,119 shares during the quarter. Wellington Management Group LLP owned about 0.35% of Ardent Health worth $6,806,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ARDT. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ardent Health in the 4th quarter worth approximately $27,000. Morse Asset Management Inc bought a new stake in shares of Ardent Health in the 1st quarter worth approximately $36,000. Deutsche Bank AG grew its position in shares of Ardent Health by 1,251.9% in the 4th quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock worth $49,000 after buying an additional 2,654 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Ardent Health in the 1st quarter worth approximately $142,000. Finally, Beacon Capital Management LLC bought a new stake in shares of Ardent Health in the 1st quarter worth approximately $144,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ARDT shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price objective on shares of Ardent Health in a research report on Thursday, May 15th. Wall Street Zen raised Ardent Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. decreased their price objective on Ardent Health from $18.00 to $15.00 and set a "neutral" rating for the company in a report on Monday, August 11th. KeyCorp decreased their price objective on Ardent Health from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Bank of America cut Ardent Health from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $15.50 to $14.60 in a research report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.56.

Ardent Health Stock Up 0.9%

Shares of ARDT traded up $0.11 on Wednesday, hitting $12.78. 253,463 shares of the stock traded hands, compared to its average volume of 369,650. The company has a market capitalization of $1.83 billion, a PE ratio of 7.06, a P/E/G ratio of 5.61 and a beta of 0.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.00 and a current ratio of 2.13. The business has a 50 day simple moving average of $12.36 and a 200 day simple moving average of $13.20. Ardent Health, Inc. has a one year low of $10.10 and a one year high of $20.72.

Ardent Health (NYSE:ARDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.22. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.54 billion. Ardent Health had a net margin of 4.11% and a return on equity of 16.66%. Ardent Health has set its FY 2025 guidance at 1.730-2.01 EPS. As a group, equities analysts forecast that Ardent Health, Inc. will post 1.23 earnings per share for the current fiscal year.

Ardent Health Profile

Ardent Health Partners, Inc owns and operates a network of hospitals and clinics that provides a range of healthcare services in the United States. It operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. The company was founded in 2001 and is based in Brentwood, Tennessee.